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10 Things Emerging Technology Companies Need to Know to Jump Start their Way to  Revenue
<ul><li>Yes, we are going around the table…. </li></ul><ul><ul><li>Who you are </li></ul></ul><ul><ul><li>First time entre...
<ul><li>What we will  not  be talking about today: </li></ul><ul><ul><li>Advertising </li></ul></ul><ul><ul><li>Marketing ...
“ If you can’t turn technology into revenue, nobody cares.” <ul><li>Debbie Gee, Founder, Maximum Strategies </li></ul>
“ You need three things to create a successful start up: to start with, good people, to make something customers actually ...
VC’s Post- Sales Engineering Customers Board Sales Force Founder Company Cash Burn Rate “ Show me the money.” “ All is in ...
<ul><li>“ Our product will change the world!” </li></ul><ul><li>Need to go sell it </li></ul><ul><li>Let’s hire an in-hous...
<ul><li>Reduce Cash Burn  </li></ul><ul><ul><li>Optimize total dollars invested in early business development activity  </...
#1   Beware of the “Let’s hire a sales force mentality”.
#2   Be objective about your technology offering.
#3   Know your competition and why a customer should write a check to you instead of THEM.
#4   Know where you are in the emerging  technology curve within your space.
#5   SHOW and TELL how your technology makes money for the customer & delivers value over alternative buying choices.
#6   Be prepared to put some skin in the game to win customers.
#7   Know when to partner and when to hold.
#8   Leverage your existing customers to  gain new ones.
#9   Simplify your message.
#10   Be realistic about what can be done and when.
Including press interviews, being a source, feature articles, quotes when customers get press Public Relations memberships...
The 10 Things Are : #1 Beware of the “Let’s hire a sales force” mentality. #2 Be objective about your technology offering....
Debbie Gee, Founder & Principal  /  703-855-3777 / debbiegee@maximumstrategies.com
End
Ok Wil, I get it, stay focused on your goal!  You know THE GOALS GUY owns the phrase FOCUS = focus on a course until succe...
<ul><li>Can’t identify the specific causes of performance shortfalls </li></ul><ul><ul><ul><ul><ul><li>Do not know how the...
Quick Assessment Process Messaging Sales Process & Selling Execution Customer Acquisition
Maximum Strategies’ Sales and Marketing Effectiveness Framework
<ul><li>Marketing Message Check-Up </li></ul><ul><ul><li>We help you develop and articulate a &quot;street ready&quot; mes...
Your Secret Weapon Execute through an Outsourced Sales & Marketing  Pilot   Maximum Strategies provides an outsourced opti...
<ul><ul><li>Good news/bad news: There  are some common demominator “mistakes” that when it comes to sales and marketing en...
“ You don't need $5 million to get started.  You can start and launch a Web company with less than $500k these days.  The ...
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10 Things Emerging Technology Companies Need to Know to Jump Start Their Way to Revenue

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Simple tips and recommendations get off the ground without spending alot of cash.

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10 Things Emerging Technology Companies Need to Know to Jump Start Their Way to Revenue

  1. 1. 10 Things Emerging Technology Companies Need to Know to Jump Start their Way to Revenue
  2. 2. <ul><li>Yes, we are going around the table…. </li></ul><ul><ul><li>Who you are </li></ul></ul><ul><ul><li>First time entrepreneur? </li></ul></ul><ul><ul><li>How long in business? </li></ul></ul><ul><ul><li>What does your company/product do? </li></ul></ul>
  3. 3. <ul><li>What we will not be talking about today: </li></ul><ul><ul><li>Advertising </li></ul></ul><ul><ul><li>Marketing programs </li></ul></ul><ul><ul><li>Direct mail campaigns </li></ul></ul><ul><ul><li>Search engine optimization </li></ul></ul><ul><ul><li>Sales lead web campaigns </li></ul></ul><ul><ul><li>How to choose a logo </li></ul></ul><ul><ul><li>How to design marketing collateral </li></ul></ul><ul><ul><li>Designing a website </li></ul></ul><ul><ul><li>Using podcasts </li></ul></ul><ul><ul><li>Or……. </li></ul></ul><ul><ul><li>Other money-grabbing marketing programs that may or may not </li></ul></ul><ul><ul><ul><li>yield results </li></ul></ul></ul>
  4. 4. “ If you can’t turn technology into revenue, nobody cares.” <ul><li>Debbie Gee, Founder, Maximum Strategies </li></ul>
  5. 5. “ You need three things to create a successful start up: to start with, good people, to make something customers actually want, and to spend as little money as possible. Most start-ups that fail do it because they fail at one of these. A start-up that does all three will probably succeed.” “ And what I discovered was that business was no great mystery. It's not something like physics or medicine that requires extensive study. You just try to get people to pay you for stuff “ Paul Graham, Software Engineer, Serial Entrepreneur, Harvard University Speech,“How to Start a Start-Up” essay, March 2005
  6. 6. VC’s Post- Sales Engineering Customers Board Sales Force Founder Company Cash Burn Rate “ Show me the money.” “ All is in place for success” “ Evangelizing does not equal cash.” “ What is the real sales forecast?” Often can’t justify purchase due to: pricing, new/co, no clear ROI, non-compelling buying message, etc. “ We will built it, they will come.” “ Kinks need to be worked out.”
  7. 7. <ul><li>“ Our product will change the world!” </li></ul><ul><li>Need to go sell it </li></ul><ul><li>Let’s hire an in-house sales organization </li></ul><ul><li>Expect revenue in six months </li></ul><ul><li>Run out and sell </li></ul><ul><li>Discover holes in messaging, product and competitive position </li></ul><ul><li>Fill the pipeline so it looks full and salespeople keep their jobs </li></ul><ul><li>Trade stories about good prospects </li></ul><ul><li>Still waiting on revenue </li></ul><ul><li>Fire existing sales force, get a new one </li></ul><ul><li>Fire VP of Sales </li></ul><ul><li>CEO does all the selling </li></ul><ul><li>Investors get unhappy </li></ul><ul><li>Fire CEO </li></ul><ul><li>Start over OR </li></ul><ul><li>Fold the company if no funds </li></ul>The Start-up Cycle:
  8. 8. <ul><li>Reduce Cash Burn </li></ul><ul><ul><li>Optimize total dollars invested in early business development activity </li></ul></ul><ul><li>Jump Start to Revenue </li></ul><ul><ul><li>Reduce sales learning curve time-to-market and ramp up sales effectiveness </li></ul></ul><ul><li>Manage Market Risk </li></ul><ul><ul><li>Maximize results by effectively communicating business value </li></ul></ul>Start with your Business Drivers: Customers = Leverage
  9. 9. #1 Beware of the “Let’s hire a sales force mentality”.
  10. 10. #2 Be objective about your technology offering.
  11. 11. #3 Know your competition and why a customer should write a check to you instead of THEM.
  12. 12. #4 Know where you are in the emerging technology curve within your space.
  13. 13. #5 SHOW and TELL how your technology makes money for the customer & delivers value over alternative buying choices.
  14. 14. #6 Be prepared to put some skin in the game to win customers.
  15. 15. #7 Know when to partner and when to hold.
  16. 16. #8 Leverage your existing customers to gain new ones.
  17. 17. #9 Simplify your message.
  18. 18. #10 Be realistic about what can be done and when.
  19. 19. Including press interviews, being a source, feature articles, quotes when customers get press Public Relations memberships to elevate the industry at large Technology Standards Committees promoting your thought leadership within your space Speaking Engagements written by credible, industry third parties White Papers continually “touch” existing customers and allow effective product development and up-selling Customer Care Initiatives published and posted to show how others are benefiting from your product Case Studies <ul><ul><li>plugs you into the right technology space to get your offering recommended to client-customers </li></ul></ul>Analyst Relations Initiatives allows you to see and be seen at the right places and “watch” live customers respond to your story, product, company and YOU. Tradeshow Program clearly tells a customer what you do, how you do it and why they should care (buy) Effective Website
  20. 20. The 10 Things Are : #1 Beware of the “Let’s hire a sales force” mentality. #2 Be objective about your technology offering. #3 Know your competition and why a customer should write a check to you and not THEM. #4 Know where you are on the “emerging technology curve” within your space. #5 Show and tell how your technology makes the customer MONEY and delivers business value over alternative buying choices. #6 Be prepared to put some skin in the game to win customers. #7 Know when to partner and when to hold. #8 Leverage your existing customers to gain new ones (even if it’s a few!) #9 Simplify your message. #10 Be realistic about what can be done and when.
  21. 21. Debbie Gee, Founder & Principal / 703-855-3777 / debbiegee@maximumstrategies.com
  22. 22. End
  23. 23. Ok Wil, I get it, stay focused on your goal!  You know THE GOALS GUY owns the phrase FOCUS = focus on a course until successful!  The big obstacle is knowing the right people to work with,  Everywhere we look there are those marketing people, web management people and so on who are willing to take your money and somehow are not accountable for results.  If their ideas or efforts don't produce traffic, or you get traffic and their words don't convert traffic to sales, they are not responsible.  How do we keep from wasting time and money on these people? First, you must have way more capital than one could imagine to start your venture.  If you even get misguided anywhere along the way, there goes your budget.  This is not just the case for very small startup businesses.  I have been involved with larger companies who have wasted hundreds of thousands on consultants, advertising companies, audio and video companies, all who promise results and produce none. So, help for startups, help for established business.  How do we avoid these???? DianePosted by: Diane D. Sunday at 3:52 PM http://www.gobignetwork.com/wil/2007/5/3/stop-screwing-around-and-focus-will-ya/10145/view.aspx
  24. 24. <ul><li>Can’t identify the specific causes of performance shortfalls </li></ul><ul><ul><ul><ul><ul><li>Do not know how their performance stacks up against leading companies </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><li>Can’t quantify the value of improvement opportunities </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Do not fully understand the dependencies and optimal sequencing of improvement initiatives </li></ul></ul></ul></ul>Many companies know that something is holding them back, but have difficulty in addressing the specific issues because they:
  25. 25. Quick Assessment Process Messaging Sales Process & Selling Execution Customer Acquisition
  26. 26. Maximum Strategies’ Sales and Marketing Effectiveness Framework
  27. 27. <ul><li>Marketing Message Check-Up </li></ul><ul><ul><li>We help you develop and articulate a &quot;street ready&quot; message which creates urgency to buy. </li></ul></ul><ul><li>Customize Your Strategy </li></ul><ul><ul><li>We leverage a proven process to assure crucial resources are applied to the best targets and maximize your efforts through strong differentiation. </li></ul></ul><ul><li>Execute Through an Outsourced Sales Option </li></ul><ul><ul><li>Execution is the next step in our process and yours. Maximum Strategies provides an outsourced option for both marketing and sales &quot;early activity&quot; functions. </li></ul></ul>
  28. 28. Your Secret Weapon Execute through an Outsourced Sales & Marketing Pilot Maximum Strategies provides an outsourced option for both marketing and sales &quot;early activity&quot; functions. Strategy plans and documents are only as good as how and when they are implemented.  Once customized strategies are developed, clients can utilize our outsourced sales and marketing option to transform company plans into action. Our principals are uniquely qualified to carry out business development activities designed to both capture business and “bring back to camp” direct feedback from potential clients with regard to your messaging, selling tactics, competitive positioning intelligence, product offerings and other factors crucial to jump starting your way to revenue and reducing cash burn. Market intelligence and re-tooling is not the job of a sales force.   Sales people want to close business and earn commissions.
  29. 29. <ul><ul><li>Good news/bad news: There are some common demominator “mistakes” that when it comes to sales and marketing entreprenuerial inventions. </li></ul></ul><ul><ul><li>Practical front-line expertise can prevent common mis-steps. </li></ul></ul><ul><ul><li>Preventing mis-steps saves time, money and heartache. </li></ul></ul><ul><ul><li>Founders must be objective about whether their companies have the right product, right pricing, right message, targeted at the right market and customers are positioned to buy. </li></ul></ul><ul><ul><li>If customers get measurable business value from the product, cash will follow. </li></ul></ul><ul><ul><li>Bootstrapping is the best way to begin. </li></ul></ul><ul><ul><li>Garnering, keeping and growing loyal, paying customers provides the best leverage to grow the business. </li></ul></ul>What we will be talking about today:
  30. 30. “ You don't need $5 million to get started. You can start and launch a Web company with less than $500k these days. The cost of equipment, software and marketing have just plummeted. Less cost means a shorter road to profitability. ... now take all of those factors that absolutely defined 1999 and tell me that since they are gone, what exactly is it about today that looks like 1999? Don' t tell me &quot;because YouTube sold for $1.6 billion.&quot; It doesn't matter. There will always be a company that sells for more than you thought it should. The fact is people are building real companies with reasonable amounts of revenue faster and more responsibly than ever. It's anti-1999. (note: all that said, 1999 rocked, and I hope it comes back some day)” Excerpt from: &quot; Wil Schroter's BIGGER Blog - Go BIG Network &quot; Times are Good Again, but it ain't no 1999 , 5/8/07

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